Thursday 28 Mar 2024
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KUALA LUMPUR (May 20): Khazanah Nasional Bhd has inked a strategic partnership with South Korea's SK ecoplant Co Ltd, which will culminate with the latter taking up a 30% stake in Khazanah's waste-management investee company Cenviro Sdn Bhd.

In a statement on Friday, the sovereign wealth fund said SK ecoplant was selected to support Cenviro in its next level of strategic growth, in line with the aspirations of the industrial development of the national waste management sector.

Khazanah managing director Datuk Amirul Feisal Wan Zahir said that the growth plan for Cenviro echoes Khazanah's mandate to develop globally competitive companies that are anchored to sustainability.

Khazanah said regulatory approvals will be sought as part of this transaction. Notwithstanding this, Cenviro will continue to run its operations as usual.

It said SK ecoplant has global presence in 15 countries with over 44 years of experience in eco-friendly businesses in the fields of integrated waste management, energy, engineering, and construction.

Cenviro currently operates as a circular waste management solutions provider mainly in treatment and disposal as well as recycling and recovery of scheduled waste.

Meanwhile, Cenviro managing director Dr Johari Jalil said the partnership will strengthen the company's operational and technological capabilities, as well as elevate end-to-end waste management solutions and bring greater value to customers.

Edited BySurin Murugiah
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